Seagate Technology (NASDAQ:STX) Shares Up 3.2% After Analyst Upgrade

Posted by George Bondi on Oct 21st, 2026

Seagate Technology Holdings PLC (NASDAQ:STX – Get Free Report) shares were up 3.2% on Wednesday after Bank of America raised their price target on the stock from $1,150.00 to $1,200.00. Bank of America currently has a buy rating on the stock. Seagate Technology traded as high as $715.63 and last traded at $696.89. 4,425,349 shares changed hands during trading, an increase of 1% from the average daily volume of 4,397,364 shares. The stock had previously closed at $675.13.

Other analysts have also issued research reports about the stock. Wells Fargo & Company cut their price objective on shares of Seagate Technology from $1,180.00 to $865.00 and set an “overweight” rating on the stock in a research report on Friday, October 16th. Wedbush raised their price objective on Seagate Technology from $825.00 to $1,000.00 and gave the company an “outperform” rating in a report on Wednesday, July 29th. Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $1,350.00 target price on shares of Seagate Technology in a research report on Wednesday, July 29th. TD Cowen raised their price target on Seagate Technology from $850.00 to $1,000.00 and gave the company a “buy” rating in a research note on Wednesday, July 29th. Finally, Zacks Research lowered Seagate Technology from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 28th. Twenty-two equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Seagate Technology currently has an average rating of “Moderate Buy” and an average target price of $975.92.

View Our Latest Report on STX

Insider Activity

In other Seagate Technology news, CFO Gianluca Romano sold 49,984 shares of the business’s stock in a transaction that occurred on Tuesday, September 15th. The stock was sold at an average price of $772.16, for a total transaction of $38,595,645.44. Following the transaction, the chief financial officer owned 70,756 shares of the company’s stock, valued at $54,634,952.96. The trade was a 41.40% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, EVP John Morris sold 9,354 shares of the business’s stock in a transaction that occurred on Monday, September 21st. The stock was sold at an average price of $877.91, for a total value of $8,211,970.14. Following the transaction, the executive vice president directly owned 22,693 shares in the company, valued at approximately $19,922,411.63. This trade represents a 29.19% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 466,959 shares of company stock valued at $378,840,741 in the last 90 days. 0.51% of the stock is owned by company insiders.

Seagate Technology News Roundup

Here are the key news stories impacting Seagate Technology this week:

Positive Sentiment: Bank of America raised its price target to $1,200 from $1,150 and maintained a Buy rating. The target implies substantial upside from recent trading levels and reinforces the view that Seagate’s earnings outlook is improving. Bank of America raises Seagate price target
Positive Sentiment: Morgan Stanley also lifted its target to $1,200 from $1,187 and reiterated an Overweight rating. The firm expects Seagate and other hard-drive makers to post strong quarterly results and issue better-than-expected guidance, making it an aggressive buyer despite recent share-price pressure. Morgan Stanley raises Seagate price target
Positive Sentiment: Zacks upgraded Seagate to Rank #2, or Buy. The upgrade reflects improving expectations for the company’s earnings and could attract additional growth-oriented investors. Zacks also highlighted Seagate’s strong growth characteristics and history of earnings surprises. Zacks upgrades Seagate to Buy
Positive Sentiment: Investors are anticipating another earnings beat. Seagate’s recent results exceeded consensus expectations, and analysts cite its earnings-surprise track record and favorable estimate-revision trends as potential catalysts for the next report. Seagate earnings beat outlook
Negative Sentiment: Risks remain from concerns about artificial-intelligence financing and increasing competition in the storage market. Seagate’s upcoming earnings and guidance will be important in validating the bullish forecasts.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Retirement Wealth Solutions LLC boosted its stake in shares of Seagate Technology by 70.6% in the 2nd quarter. Retirement Wealth Solutions LLC now owns 29 shares of the data storage provider’s stock valued at $28,000 after purchasing an additional 12 shares during the last quarter. Jones Financial Companies Lllp acquired a new stake in shares of Seagate Technology during the second quarter worth $39,000. One River Asset Management LLC raised its stake in Seagate Technology by 50.0% during the third quarter. One River Asset Management LLC now owns 45 shares of the data storage provider’s stock worth $42,000 after buying an additional 15 shares during the last quarter. Trust Co. of Vermont bought a new position in Seagate Technology during the second quarter worth $54,000. Finally, Triumph Capital Management lifted its holdings in Seagate Technology by 93.5% in the second quarter. Triumph Capital Management now owns 60 shares of the data storage provider’s stock valued at $58,000 after buying an additional 29 shares during the period. 92.87% of the stock is currently owned by institutional investors.

Seagate Technology Price Performance

The company has a debt-to-equity ratio of 1.56, a quick ratio of 1.17 and a current ratio of 1.67. The business has a 50 day moving average price of $836.66 and a 200-day moving average price of $808.22. The company has a market capitalization of $158.47 billion, a price-to-earnings ratio of 50.21 and a beta of 2.06.

Seagate Technology (NASDAQ:STX – Get Free Report) last announced its quarterly earnings data on Tuesday, July 28th. The data storage provider reported $5.71 EPS for the quarter, topping the consensus estimate of $5.10 by $0.61. The company had revenue of $3.63 billion during the quarter, compared to the consensus estimate of $3.50 billion. Seagate Technology had a net margin of 26.11% and a return on equity of 369.98%. The company’s quarterly revenue was up 48.5% on a year-over-year basis. During the same quarter last year, the firm posted $2.59 EPS. Seagate Technology has set its Q1 2027 guidance at 7.100-7.500 EPS. Research analysts predict that Seagate Technology Holdings PLC will post 35.70 EPS for the current fiscal year.

Seagate Technology Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 7th. Shareholders of record on Thursday, September 24th were issued a $0.74 dividend. This represents a $2.96 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date was Thursday, September 24th. Seagate Technology’s dividend payout ratio (DPR) is presently 21.33%.

About Seagate Technology

(Get Free Report)

Seagate Technology Holdings plc (NASDAQ: STX) is a data storage company that develops and manufactures mass-capacity storage products and solutions. Its portfolio is centered on hard disk drives (HDDs) used in cloud data centers, enterprise systems, network-attached storage, video and imaging applications, and personal computers.

The company also provides storage-related services and solutions designed to help organizations store, manage, protect, and access large volumes of digital information.